Brand equity is a marketing term that describes a brand's value. That value is determined by consumer perception of and experiences with the brand.
Brand is the emotional and meaningful experience which people have about your product/service.
Bare in mind that STORY is an emotional and meaningful audience's experience, which grab their attention, hold it through suspense, and pays off through revelation and creating desire.
Therefore, BRAND is like STORY
But is Not the Story You Say,
It's The Story Which Your Customer Say About Their Experience With Your Brand...
However, if you master the art of creative business storytelling you can shift beliefs and suspend disbeliefs.
Literally, you can control the experience of your customers.
Reason #1. Branding Is HOT?
1. People have too many choices and too little time
2. Most offerings have similar qualities and features
3. We tend to base our buying choices on belief, trust and feelings
The main purpose of branding is to get more people to buy more stuff for more years at a higher price. - Marty Neumeir
Reason #2. Branding is About Building Belief and TRUST.
When creative and analytical sides work together, you can build a charismatic brand.
When creators of ideas work with sellers of ideas the wealth comes.
A CHARISMATIC BRAND is any product, service, or organization for which people believe there’s no substitute. - Marty Neumeir
A charismatic brand is like a charismatic character from a movie. The character magnetizes the frame with action, words and sometimes just presence. The frame absorbs us and we become the character, we feel what they feel, we think what they think, we become what they are. And by experience this magic we learn something new about ourselves and about the most important question out there - Who am I?
You can create this belief when you place your customer in the centre of the story/brand and help them go through the transformation and change which they dream about. And the best thing is that you will help them find who they are .
Reason #3. You Build a Strong Frame by Differentiating Yourself
Our brain acts as a filter to protect us from too much information.
Framing is the act of emphasizing the details that are critically important while de-emphasizing things that aren’t, by either minimizing certain facts or leaving them out entirely. Proper use of Framing can help you present your offer persuasively while honouring your customer’s time and attention.
Cinematography is all about the right framing, controlling with light, movement and shapes the audience's attention.
The Best Marketing always has been about grabbing customers' attention, hold it through suspense and creating desire and motives for actions. Marketing is creating tribes of followers and goers. People join different tribes for different activities.
The three most important words in differentiating your brand:
Focus
FOCUS
FOCUS
THE FOCUS TEST:
1. Who are you?
2. What do you do?
3. Why do you do it and why does it matter?
The most common reason for loss of focus is ILL-CONSIDERED BRAND EXTENSIONS.
Bad Brand Extensions are those that chase short-term profits at the
expense of long-term brand value.
Good Brand Extensions grow the value of the brand by reinforcing
its focus.
Reason #3. Working With the Most Appropriate Collaborators for Your Unique Brand
It takes a village to build a brand. - Marty Neumeir
As a film and Tv Show producer I know from experience how important is to work like a bespoke tailor master, because every story/brand is unique and there is a saying that you can learn to write only the story which you write at the moment, because every character has an unique mind and soul.
Bare in mind when you choose your collaborators, they can be
The One Stop Shop company which is easy to manage but you will have little choice of team and little ownership of the brand and you will get value much further from bespoke customer experience, because they will serve you as the one of the many clients they manage.
The BRAND AGENCY hires best-of-breed firms to help develop and steward the brand, which is one step closer to the bespoke, but is something like measure to wear service and delivery.
The INTEGRATED MARKETING TEAM is managed internally with open collaboration among best-of-breed specialists.This is your bespoke suit, which is an investment and which will fir you perfectly. And when you wear it you will feel like a champion, like a super hero.
I highly suggest you to INVEST in your future. If you go with the third option you will need to invest in the best and most appropriate and fitting into your Brand story cast and crew.
But at the end, the result will be a blockbuster, because you will create a myth and a legendary BRAND.
Reason #4. If You Invest In Your Brand Equity You Will INNOVATE and Disrupt the Market
One of the challenges in managing brands is the many changes that occur in the marketing environment. The marketing environment evolves and changes, often in very significant ways.
Shifts in consumer behaviour, competitive strategies, government regulations, and other aspects of the marketing environment can profoundly affect the fortunes of a brand.
Besides these external forces, the firm itself may engage in a variety of activities and changes in strategic focus or direction that may necessitate adjustments in the way that its brands are being marketed. Consequently, effective brand management requires proactive strategies designed to at least maintain - if not actually enhance - brand equity in the face of these different forces.
Why do companies have so much trouble with creativity?
Because creativity is right-brained, and strategy is left-brained.
Strategic thinking as analytical which means a logical modelling of the world in cause and effect sequence of events which creates a story line(plot).
Creative thinking is the skill to combine and connect things which strangely enough is very close to the nature of strategic thinking.
So if they are so similar why then company have so much trouble to be creative?
The answer is simple - THE FEAR of CHANGE
We are extremely creative, this is our nature, this is how our mind works - creating story after story full with cause and effect events in form of plots. Our mind is making the whole film which then is projected inside us and we watch it, feel it and at the end believe in it.
Our mind with its thoughts, emotions, feelings, associations, memories and prejudices is the director, producer, writer and the actor but we are the viewer.
ACT IN SPITE OF FEAR and you will be as creative as the most creative person in the world.
But how do you know when an idea is innovative?
TOO PREDICTABLE = NO SURPRISE
NO SURPRISE = NOTHING NEW
NOTHING NEW = NO VALUE
To begin with, the brand needs a stand-out name.
1. DISTINCTIVENESS
2. BREVITY
3. APPROPRIATENESS
4. EASY SPELLING AND PRONUNCIATION
5. LIKABILITY
6. EXTENDABILITY
7. PROTECTABILITY
I have got two friends an amazing independent filmmaker
Peppe George and n actor with whom I did two of my feature films
Kriss Millar.
They have picked for themselves perfect names, once you hear them you can't forget huh
A GREAT NAME deserves GREAT GRAPHICS.
A Logo is a name and visual symbol that suggests a market position and can move, change, and operate freely in various media.
The package, for products that sell at retail is often the best and last chance to make a sale.
The hardest-working packages follow a natural reading sequence:
THE SHOPPER:
1. Notices the package
2. Asks “What is it?”
3. Wonders “Why should I care?”
4. Wants to be persuaded
5. Needs proof
By presenting information to match this sequence,
a package can sell the product more effectively.
Too many websites are bloated with irrelevant information.
The best-working websites follow a natural reading sequence:
THE USER:
1. Notices the website
2. Asks “What is it?”
3. Wonders “Why should I care?”
4. Wants to be persuaded
5. Needs proof
Reason #5. By investing in Brand equity you create a Dialogue with your Customers
However, don't forget that a valuable Dialogue is extension and compression of action.
By creating a dialogue you can test your concepts, ideas, products or services by asking the right questions and listen, listen, listen, listen.
THE BEST TESTS ARE QUICK, CHEAP, AND DIRTY.
The HAND TEST is a proof for a distinctive voice.
If you can’t tell who’s talking when the trademark is covered, then the brand’s voice is not distinctive.
Every good dialogue is a chain of action and reaction, you ask question customers answer you ask another question, and so forth.
Reason #6. You invest in longevity and in sustainable Brand growing
If Business is a process, not an entity. It must be constantly changing and evolving.
If Brand is like a charismatic character from an outstanding story, so it is outstanding because of its character portrayals.
Your Brand must be like a person we all know and recognize ourselves in them. As an author, you must know your character intimately, and with a few bold strokes or with detailed drawing, make them come to life.
In the arts there are originators of new slants, new approaches, new surprising twists, but very few artists ever bring forth such original creations as Einstein’s relativity.
Originality is rare in the field of Business nowadays, so don’t get locked up in trying to be totally original. If originality is almost non-existent, what should an entrepreneur strive for?
You should strive for HUMANIZATION of your Brand - Characterization. You must create a BRAND like a Living, vibrating human being, because they are still the secret and magic formula of great and enduring relationship and communication of your story/Brand with your customers.
To create an original story/Brand, pick one outstanding trait.
This Brand will totally possess one trait – one trait that is 100%. A compulsive trait - mission. Apple trait is “to bringing the best user experience to its customers through its innovative hardware, software, and services.”
Which contrasts with Steve Jobs' original, personal belief about what is Apple brand's trait, "To make a contribution to the world by making tools for the mind that advance humankind."
Only the future will show whether the shift from the original trait to the present one will bring positives for the character of Apple.
IF A BRAND LOOKS LIKE A DUCK AND SWIMS LIKE A DOG, PEOPLE WILL DISTRUST IT.
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